Saturday, 23 August 2014
Last updated 20 hours ago
Jan 10 2012 | 10:04am ET
Former Goldman Sachs trader Morgan Sze’s Azentus fund, launched to great fanfare last April, lost 6.8% in 2011.
Reuters, citing two sources with “direct knowledge of the matter,” says the Hong Kong-based multi-strategy fund was hit by a sharp drop in Chinese shares.
Sze launched the fund with about $1 billion in April 2011, the largest Asia launch of the year. Azentus now manages $1.9 billion.
Reuters’ sources say Sze’s fund did well for the first six months of 2011 before coming to grief in September, mostly due to its Chinese exposure, as Chinese stocks measured by the MSCI China Index shed 20%. Most of its losses came from investments in Chinese stocks listed in the U.S.
The fund was down 1.4% in December and 1.7% a month earlier, says the news agency, and begins 2012 with 120% gross exposure (the sum of its long and short positions).
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note